Have you tried creating your own trading club/ group?

Hellooooo! :blush: This is just an idea that has been on my mind recently and I wanna know about your thoughts and experiences. :sweat_smile: I feel like since I’m a very social person, it would help me become a more active trader when I have an irl club or group who can keep me accountable. :open_mouth: Have any of you guys thought or tried this? :open_mouth: Why not or how did it turn out? :blush: Thank youuuu!

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This is a really good idea. Let me join if you create one. :heart_eyes: :sweat_smile:

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Hahaha! :smiley: I would love to have you. :stuck_out_tongue: But I was thinking about something more physical or a club with people in my area. :sweat_smile: The thought of meeting up with people is pretty exciting for me!

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Oh, all the best! :+1:t2: :heart_eyes: :smiling_face_with_three_hearts:

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Making a group is an appreciable approach even though I haven’t tried it before.

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Thank youuuu! :blush: I mean, it’s just an idea and I’d probably wait to see what the others here think before I even attempt it. :sweat_smile: I don’t think forex is popular in the PH. :confused:

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Thank youuu! :smiley: Have you ever been part of one though? :slight_smile:

I joined a “Share Club” - around 25 years ago - we met every couple of weeks and each put in £25 a month as a joint venture - Sadly it all fell apart as some knew more than others and nobody agreed about anything !

I remember one of teh Lads was adamant the “Northern Rock” was destined to make us our fortunes - and wanted us to buy - just about at the highest price they ever reached before they started their terminal decline !

There are just too many different ways of making trading decisions and everyone has different risk - appetites - Try it by all means - but traders are independent creatures and decisions made by committees are invariably lacking in flair and accuracy !

Sorry ! - We just have to take responsibility for our own decisions :slightly_smiling_face:

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Ooooh. :open_mouth: That’s very interesting! I could understand though why it was a challenge. :open_mouth: I’m curious to know, what kind of joint venture was this? Is this something along the lines of fund management? And what made you agree to it when you guys were starting out? :thinking: I hope I’m not intruding!

No not intruding at all @ria_rose - I’m in UK and we set the club up as a legal entity - with a Bank account and Tax registration - but basically we just put in some money each month and had meetings to discuss how we would invest it - we had written Club Rules and two designated members to sign documents and cheques - but all decisions were made jointly at our meetings or occasionally by telephone conversations if something was very urgent.

When someone left the club we sold shares to cover paying them their share back and new members could join and start paying the £25 - the spreadsheets of each member’s Cash values in each share got quite complicated - but it worked out ok - Then the “Dot-Com” boom came to an end and the market turned to “Bear” so we pretty much all lost interest - To be honest knowing “Ian” the guy who started it all up I’m sure we got a fair share back out of the club when it finished - But to be honest I don’t have any memory at all about how it finished ! - Just that Ian and I sat at opposite ends of teh table at meetings and we simply never agreed about anything at all - wierd really 'cos we ended up as good friends and I met a lot of interesting people through him after the club packed up ! - :slightly_smiling_face:

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Yeah this is also how I envisioned this type of thing to end up. I like online communities, I can just tune out when I want and join conversations that are useful/fun for me!

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Truly intriguing topic.

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Oh wow. :open_mouth: You’ve already gone that far so it must have been a really serious organization. It seems like you also had the necessary processes in place, even when it comes to handling new people and people who decide to leave. Hahaha. :blush: I think it’s a shame that it ended up getting dissolved. </3 If given the chance, would you want to try joining something like that again? :blush:

Glad to know that it was still a memorable experience! :blush: I’m sure this Ian also has a very interesting personality and it’s kinda expected for strong personalities to clash. :sweat_smile:

Trueee. :blush: That’s definitely one of the perks of being part of online communities. :blush: Although I’d say that in-person conversations and discussions still feel a bit more “real,” if that makes sense. :open_mouth:

Thank youuuu! :blush: Have you had the chance to create or join an in-person trading club? :smiley:

For sure. I still like those for more personal circles. But I think trading is just an innately un-social activity :sweat_smile: